Quarterly national economic reports for the eurozone and other major eurozone economies are due to be released on Tuesday, capping a busy day for European economic news.
At 1:30 a.m. Eastern Time, French statistics agency INSEE is scheduled to release preliminary figures for GDP and personal consumption expenditure. second largest euro area economy The company is expected to grow 0.1% sequentially in the first quarter, which is the same pace as the fourth quarter.
Destatis will release German retail sales, import prices and ILO unemployment data at 2 a.m. ET. Import prices are expected to fall at an annual rate of 3.8% in March, following a 4.9% decline in February. Economists expect retail sales to rise 1.5% month-on-month in March, compared with a 1.9% decline the previous month.
Hungary is scheduled to release preliminary GDP figures at 2:30 a.m. Eastern time.
At 2:45 a.m. (ET), France is scheduled to release preliminary figures for consumer prices and producer prices. Economists expect consumer price inflation to slow to 2.1% in April from 2.3% in March.
Preliminary GDP figures for Spain, the Czech Republic, and Austria are scheduled to be released at 3 a.m. ET. Spain's GDP grew by 0.6% in the first quarter, but is expected to slow to 0.4% in the first quarter.
At 3:55 a.m. ET, the Federal Ministry of Labor will release unemployment data for Germany. The unemployment rate in April is expected to remain unchanged at 5.9%.
Preliminary GDP numbers from Germany and Italy are expected to be released at 4 a.m. ET. Germany's economy is expected to contract by 0.2% in the first quarter, after recording a similar contraction in the previous quarter.
The Bank of England is scheduled to release mortgage approvals data at 4:30am ET. The number of mortgages approved in March is expected to rise to 61,000 from 60,383 in February.
At 5 a.m. Eastern Time, Eurostat releases preliminary figures for GDP and inflation in the euro area. The currency area is expected to expand by 0.1% in the first quarter after remaining stable in the fourth quarter. Inflation is expected to remain unchanged at 2.4% in April.
Written by Renju Jaya
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